WTI crude markets moved back and forth through the Cilo on Wednesday, which revolved around the $ 95.50 level. I still see that the region is in top form considerable resistance, and therefore with regard to procurement in this market, it is difficult to come up with an idea or cause to do so.
During the session, we have seen oil inventories in the United States builds by 2.5 million barrels, in contrast to the expected loss by $ 1.4 million. This, of course, it appears that the demand for oil a few, if not almost floating. For this reason, markets fell yesterday from the heights, and for this reason, I am descending somewhat more than I was yesterday.
By looking at this market, I can see that the $ 97.00 level offers considerable resistance again, and for this reason, we feel that we are heading towards the top of the consolidation area unlike any other direction. It is agreed that we are not at $ 97.00 handle, but we are close enough to know that we can not buy there.
Limited in scope during the summer
However, I see no difference, I think that we are trapped in a deliberative range during the summer, and at this point, we are the closest from Summit of us to the bottom. For this reason, I am descending more, especially taking into consideration the supply numbers that came regressive, bonds, and also aware of the fact that there is a lot of support and resistance areas and small within five dollars of this, to the degree that it is almost impossible trading in this market. In that case, I will not trade the oil now.
Will take a daily close below the $ 92.00 level in order to start to take short positions strong, but in fact, it is possible to justify selling below the $ 94.00 level on the basis of short periods. With respect to long Balodaaat, we do not need to go beyond the level of 97.00 $ to think so. Otherwise, you simply look at a few fils each time at best. This market desperately needs the kind of guidance, and most likely it will not happen before the fall.